About 75 unionized workers at Wescast Industries Inc. walked off the job in Strathroy, near London, Ontario on Saturday, over job security.

Malaysia’s Petronas said it has agreed to extend the outside date for its proposed $5.2 billion takeover offer for Progress Energy Resources Corp. to Nov. 30. It also said it and Progress have met with Industry Canada officials and Petronas plans to make further submissions to the government in order to obtain approval for the deal.

TransCanada Corp. said it has agreed with Phoenix Energy Holdings Ltd. to develop a 3 billion Canadian dollar ($3.0 billion) pipeline project in Northern Alberta.

MacDonald Dettwiler & Associates Ltd. said it has received U.S. antitrust clearance for its acquisition of the satellite manufacturing unit of Loral Space & Comunications Ltd.

Patheon Inc. said it has agreed to buy Banner Pharmacaps, a specialty pharmaceutical business dedicated to the research, development and manufacturing of gelatin-based dosage forms, for $255 million.

Aimia Inc. said it has agreed to acquire an additional 20% equity stake in Mexico’s Premier Loyalty & Marketing, which owns the Club Premier loyalty program. Aimia will buy the stake for about $88 million, giving it a 49% interest in Premier Loyalty.

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Canada Real Time provides insight and analysis into what’s making news in Canada, a country punching above its weight on the world stage thanks to its vast resources and strong banking sector. Drawing on the expertise of The Wall Street Journal and Dow Jones Newswires, we take a look at developments in fields ranging from business to politics to culture. You can contact the editors at canadaeditors@dowjones.com